July 10, 2019 / 1:02 PM / 3 months ago

YL Ventures raises $120 mln for 4th Israel cyber-focused fund

TEL AVIV, July 10 (Reuters) - YL Ventures, a Silicon Valley venture capital firm focused on early-stage cybersecurity startups in Israel, said on Wednesday it raised $120 million for its fourth fund.

Fund IV brings the total capital under YL Ventures’ management to $260 million. Generally investing in only two to three startups each year, the new fund will target a total of 10 companies.

YL Ventures said it bridges the gap between Israeli innovation and U.S. markets, supporting its companies as they go to market, raise follow-on capital and scale up.

YL Ventures has invested in 16 companies to date, eight of which have been acquired, including Twistlock by Palo Alto Networks and Hexadite by Microsoft.

The fund is headed by Silicon Valley-based Managing Partner Yoav Leitersdorf. (Reporting by Tova Cohen)

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